TechRep From , joined Dec 1969, posts, RR: Posted (12 years 2 months 1 week 1 day 17 hours ago) and read 3337 times:
Letter to All DANA Employees (DANA was a holding company under Dornier LLC)
February 10, 2003
Further to my letter dated January 29, 2003.
The Bankruptcy Court in the Eastern District of Virginia today approved DANA’s plan of reorganization and the sale of substantially all of its assets to M7 Capital, LLC. M7 Capital was also the winning bidder for the FAI assets.
The closing or transfer of the assets will take place some time between February 21 and March 17, 2003. During that time period, M7 Capital will inform DANA of the employees it wishes to hire. DANA and M7 Capital will make every effort to make this transition as smooth as possible.
We will let you know of any other developments as soon as they become available.
TechRep From , joined Dec 1969, posts, RR:
Reply 2, posted (12 years 2 months 1 week 1 day 17 hours ago) and read 3302 times:
The guy who is behind M7 Capital is a former wheel with Fairchild back in the salad days, when Military contracts were high. He bought all of the hangars/buildings in SAT, including 328 wing production, FAI (metro)hangar, FAS (328)hangar, FAI Customer Support building, 328 Customer Support building and the $7 million dollar building that Dornier had built in Virginia.
We haven't used Dornier for any Engineering in months. We just got a good DRE and he supports all our minor repair needs. It will get complicated if we have any Major Repair needs to the Primary Structure a DRE will not be able to provide that.
Let me put it to you this way folks, the Director and acting VP in SAT came in and unloaded his desk into a box. Rest in piece my beloved company.....